It’s no secret that consumers are spending less and when you own your own small business even a 5 to 10% decrease can hurt. If you own a franchise that makes most of it’s profit from discretionary income downturns like this can kill as consumers cut out the non-essentials first. What can a small business do in recessions and economic downturns to survive?

The best way to keep the customers and clients coming to you is via marketing and well-placed advertising. In the past a few ads in local magazines and newspapers might have been enough, but when things get tight you have to strategically place your ads and offer better incentives to bring customers and clients to your door.

If you’re thinking that you can’t afford to advertise more because you right now you should consider that you can’t afford not to.

Marketing Tips:

• Offer coupons in local magazines, journals, and coupon books
• Advertise locally online – You might be surprised how cheap local Website advertising can be.
• Contact local Bloggers – Offer local owners of blogs and Websites freebies if they will review your business on their site.
• Spend a Saturday placing coupons on mailboxes in every neighborhood within five miles. This is cheaper than using a service to mail out thousands of flyers.